Allstate (NYSE:ALL) COO Sells $4,064,866.40 in Stock

The Allstate Corporation (NYSE:ALL) COO Mario Rizzo sold 18,578 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the sale, the chief operating officer owned 82,227 shares in the company, valued at $17,991,267.60. This represents a 18.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Allstate Trading Up 1.4%

Shares of NYSE:ALL traded up $3.09 during mid-day trading on Monday, reaching $219.68. The stock had a trading volume of 1,757,530 shares, compared to its average volume of 1,603,424. The firm has a market cap of $56.55 billion, a PE ratio of 4.85, a price-to-earnings-growth ratio of 0.43 and a beta of 0.21. The firm has a 50 day simple moving average of $210.35 and a two-hundred day simple moving average of $205.85. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $221.19.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. The business had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. Allstate’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the company posted $3.53 EPS. On average, research analysts predict that The Allstate Corporation will post 26.35 EPS for the current fiscal year.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd were paid a $1.08 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This is a positive change from Allstate’s previous quarterly dividend of $1.00. This represents a $4.32 dividend on an annualized basis and a yield of 2.0%. Allstate’s payout ratio is presently 9.53%.

Institutional Investors Weigh In On Allstate

A number of hedge funds and other institutional investors have recently made changes to their positions in ALL. MV Capital Management Inc. acquired a new stake in shares of Allstate during the fourth quarter worth $25,000. Dorato Capital Management acquired a new stake in shares of Allstate in the fourth quarter valued at approximately $27,000. Navalign LLC acquired a new stake in shares of Allstate in the fourth quarter valued at approximately $27,000. Evolution Wealth Management Inc. raised its holdings in shares of Allstate by 7,000.0% in the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 140 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC raised its holdings in shares of Allstate by 112.3% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 73 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ALL shares. Raymond James Financial reiterated a “strong-buy” rating and set a $260.00 price objective on shares of Allstate in a report on Tuesday, March 3rd. JPMorgan Chase & Co. increased their target price on Allstate from $260.00 to $263.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Evercore set a $225.00 target price on shares of Allstate in a report on Wednesday, January 7th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $231.00 price target on shares of Allstate in a research note on Thursday, March 5th. Finally, Piper Sandler increased their price objective on shares of Allstate from $252.00 to $268.00 and gave the stock an “overweight” rating in a research report on Friday. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $240.56.

Allstate Company Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.